TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was – 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Pioneer Natural Resources Company (NYSE:PXD) in the fourth quarter 2023 investor letter. Headquartered in Irving, Texas, Pioneer Natural Resources Company (NYSE:PXD) is an oil and gas exploration and production company. On March 28, 2024, Pioneer Natural Resources Company (NYSE:PXD) stock closed at $262.50 per share. One-month return of Pioneer Natural Resources Company (NYSE:PXD) was 11.61%, and its shares gained 29.91% of their value over the last 52 weeks. Pioneer Natural Resources Company (NYSE:PXD) has a market capitalization of $61.326 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Pioneer Natural Resources Company (NYSE:PXD) in its fourth quarter 2023 investor letter:
“We often see the ebb and flow of the Energy sector tied to underlying commodity prices. Pioneer Natural Resources Company (NYSE:PXD) is an independent exploration and production company with operations in West Texas. Exxon Mobil formally announced the acquisition of Pioneer in an all-stock deal that is expected to close in the first half of 2024. We trimmed the position, which had a 0% return for the quarter – which outpaced the index sector average decline of -2%.”
A group of oil and gas workers in safety gear inspecting a well head.
Pioneer Natural Resources Company (NYSE:PXD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Pioneer Natural Resources Company (NYSE:PXD) was held by 76 hedge fund portfolios, compared to 67 in the previous quarter, according to our database.
We discussed Pioneer Natural Resources Company (NYSE:PXD) in another article and shared the list of stocks in which half of Leon Cooperman’s latest investment portfolio is invested. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.